WeBank Co., Ltd. Sustainability Profile
WeBank Co., Ltd., a pioneering digital bank headquartered in China, stands at the forefront of the fintech industry. Founded in 2014, WeBank has rapidly established itself as a leader in online banking, primarily serving the Greater China region. The company focuses on providing innovative financial services, including personal loans, wealth management, and small business financing, leveraging advanced technologies such as artificial intelligence and big data. WeBank's unique approach to banking combines a customer-centric model with cutting-edge digital solutions, setting it apart from traditional financial institutions. As a wholly-owned subsidiary of Tencent, WeBank has achieved significant milestones, including being the first digital-only bank in China. Its commitment to financial inclusion and technological innovation has solidified its position as a key player in the evolving landscape of digital finance.
DitchCarbon Score
How does WeBank Co., Ltd.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
WeBank Co., Ltd.'s score of 25 is lower than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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WeBank Co., Ltd.'s reported carbon emissions
In 2023, WeBank Co., Ltd. reported total carbon emissions of approximately 44,059,040 kg CO2e. This figure includes emissions across all three scopes: - **Scope 1 emissions** totalled about 1,593,610 kg CO2e, with significant contributions from stationary combustion (189,180 kg CO2e) and fugitive emissions (33,020 kg CO2e). - **Scope 2 emissions** were approximately 6,366,580 kg CO2e, entirely from purchased electricity. - **Scope 3 emissions** accounted for the largest share, at about 36,098,850 kg CO2e, primarily driven by upstream leased assets (30,836,070 kg CO2e) and purchased goods and services (3,026,800 kg CO2e). Despite the substantial emissions reported, WeBank has not disclosed any specific reduction targets or initiatives as part of their climate commitments. The absence of SBTi (Science Based Targets initiative) targets or other formal reduction pledges indicates a potential area for future development in their sustainability strategy. Overall, WeBank's emissions data reflects a comprehensive approach to tracking carbon outputs, although further commitments to reduction strategies would enhance their climate action profile.
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| 2023 | |
|---|---|
| Scope 1 | 1,593,610 |
| Scope 2 | 6,366,580 |
| Scope 3 | 36,098,850 |
How Carbon Intensive is WeBank Co., Ltd.'s Industry?
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WeBank Co., Ltd.'s Scope 3 Categories Breakdown
The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Upstream Leased Assets" being the largest emissions source at 85% of Scope 3 emissions.
Top Scope 3 Categories
WeBank Co., Ltd.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
WeBank Co., Ltd. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
